Household spending up for 61% families in July: Survey
71% of the respondents belonged to rural India, while 29% were from urban centres.
Published: 02nd August 2022 08:40 PM | Last Updated: 02nd August 2022 08:40 PM | A+A A-
(Express Illustrations | Amit Bandre)
NEW DELHI: Overall household spending has increased for 61% of families in July -- a 2% increase from the previous month -- consumer data intelligence company Axis My India has found in its findings released on Tuesday.
While spends on essentials like personal care and household items have increased for 45% of the families -- a 1% increase over June -- spends on non-essential and discretionary products like AC, car, and refrigerator continue to remain the same for 88% of the families, according to the survey.
At the same time, consumption of health-related items has increased for 38% of the families, as against 35% last month.
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Interestingly, the survey also points out that about 92% of consumers said they would prefer Indian brands, while only 6% said they would buy Indian as well as imported brands.
The August report also shows increased awareness towards sustainable options with 63% saying that they are prepared to pay more for environmentally friendly or natural products.
Pradeep Gupta, Chairman and MD, Axis My India said, "A sense of resilience, a belief in home-grown brands and an optimistic outlook towards the future is noteworthy. While inflation and lack of employment opportunities continue to be of concern, a major chunk believes that their living standards have improved in the last few years."
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The survey is based on telephonic interviews with a sample size of 10,205 people across 34 states and Union Territories.
71% of the respondents belonged to rural India, while 29% were from urban centres.
